Part 1Charities

Chapter 7Scottish charitable incorporated organisations

Conversion, amalgamation and transfer

61Transfer of SCIO's undertaking

1

A SCIO may resolve that all its property, rights and liabilities should be transferred to another SCIO specified in the resolution.

2

Where a SCIO has passed such a resolution, it must send to OSCR—

a

a copy of the resolution, and

b

a copy of a resolution of the transferee SCIO agreeing to the transfer to it.

3

A resolution referred to in subsections (1) and (2)(b) must be passed—

a

by a two-thirds majority of those voting at a general meeting of the SCIO (including those voting by proxy or by post, if voting that way is permitted), or

b

unanimously by the SCIO's members, otherwise than at a general meeting.

4

The resolution referred to in subsection (1) does not take effect until confirmed by OSCR.

5

If OSCR confirms the resolution—

a

all the property, rights and liabilities of the transferor SCIO become by virtue of this subsection the property, rights and liabilities of the transferee SCIO in accordance with the resolution,

b

the transferor SCIO is dissolved, and

c

OSCR must remove from the Register the entry for the transferor SCIO.